The E-gift that keeps on giving

Move over Groupon and daily online coupons the world of online retail has a new kid in town. It's called Wrapp and it's all about social gifting.

Last year, the buzzword in e-commerce was Groupon Inc and its myriad of competitors that offered daily online coupons to entice shoppers in a down economy. Now, the latest fashion in retail is social gifting, where people get together on Facebook to buy each other gifts.

Start-ups such as Sweden-based Wrapp, which is launching its US business on Monday, are getting millions of dollars in venture-capital funding, and retailers like Best Buy Co Inc, Gap Inc and Starbucks Corp are scurrying to be a part of it.

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